Commodities News
Commodity market news including oil prices, gold, silver, natural gas, and agricultural futures. Track supply, demand, and geopolitical price drivers.
Goldman Sachs Flags $100 Oil Risk to Global Economy Amid Middle East Tensions
Goldman Sachs cautions that a brief surge in oil to $100 a barrel could reduce global economic growth by 0.4 percentage points and increase inflation by 0.7 points, with Morgan Stanley now expecting the ECB to maintain rates through 2026.
Lithium Stocks Slide Amid China Price Volatility, Policy Uncertainty
Major lithium producers Albemarle and SQM declined in New York trading as Chinese spot prices for the battery metal showed significant volatility, with traders focused on upcoming policy cues and corporate results.
ULSD Futures Surge 10% on Middle East Supply Fears, Diesel Prices Climb
U.S. heating oil futures soared 9.8% Thursday, hitting a one-year high amid Middle East supply risks. Brent crude topped $84, while average U.S. diesel prices rose to $4.04 a gallon.
Gasoline Futures Surge 6% on Middle East Supply Fears, Pump Prices Follow
NYMEX gasoline futures surged 6% Thursday as Middle East tensions threaten supply, with AAA reporting a 27-cent weekly jump at the pump to a $3.25 national average.
Oil Prices Surge Past $84 on Middle East Supply Fears
Brent crude oil prices climbed above $84 per barrel following tanker incidents in the Gulf, raising fears of prolonged supply disruptions. U.S. diesel prices and physical crude premiums also spiked as markets tightened.
Gold Retreats as Dollar Strength, Rising Yields Outweigh Geopolitical Tensions
Gold prices declined on Thursday, erasing earlier gains, as a stronger U.S. dollar and higher Treasury yields offset safe-haven demand spurred by Middle East tensions. The market's focus shifts to Friday's U.S. employment report.
Qatar LNG Halt Strains Global Supply, Spotlight on Venture Global Flexibility
A Qatar LNG production halt is tightening global supply, with Venture Global's flexible spot cargoes drawing attention. Limited spare capacity elsewhere is driving sharp price increases.
Hong Kong Boosts Gold Hub Ambitions with Refiner Incentives, 2,000-Tonne Storage Goal
Hong Kong is rolling out new incentives to attract gold refiners and facilitate cross-border precious metals trade with mainland China, aiming to expand storage capacity beyond 2,000 metric tons. This push aligns with China's broader strategy to increase its influence in global gold pricing.
Anglo American CEO Sells Shares After LTIP Vests at 21.2%
Anglo American CEO Duncan Wanblad sold 24,074 shares at £36.384 each to cover tax obligations following the vesting of incentive awards. The company's 2023 long-term incentive plan paid out at 21.2% of the maximum potential award.
Rio Tinto and Western Australia Launch $1.1B Desalination Venture
Rio Tinto and the Western Australian government have established a 50:50 joint venture to construct a A$1.1 billion seawater desalination plant near Dampier. The expanded facility will provide 8 gigalitres of water annually to local towns and mining operations.
Shell Secures New Kazakhstan Exploration Rights Amid Ongoing Arbitration
Shell has entered into an agreement with Kazakhstan's energy ministry for exploration rights to the Zhanaturmys oil and gas block, valid until 2032. The move comes as the company remains engaged in international arbitration concerning other Kazakh ventures and proceeds with its share repurchase program.